March 2020 - Vancouver Real Estate Statistics
Posted on Apr 02, 2020 in Market Update
Home buyers and sellers adjust their activities in March amid challenging circumstances
Metro Vancouver’s* housing market saw steady home buyer demand to begin March and a levelling off of activity as the month went on and concerns about the COVID-19 outbreak intensified.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential ho...
Commercial real estate sales decline in the Lower Mainland in 2019
Posted on Apr 01, 2020 in Market Update
Commercial real estate activity remains below the pace of recent years
Sales and dollar value activity in the Lower Mainland’s commercial real estate market declined in 2019 compared to long-term historical averages.
There were 1,538 commercial real estate sales in the Lower Mainland in 2019, a 32.8 per cent decrease from the 2,288 sales in 2018 and...
Canadian Monthly Real GDP (January 2020)
Posted on Mar 31, 2020 in Economics
The Canadian economy grew 0.1 per cent on a monthly basis in January as weather and labour disputes offset more positive developments in some sectors. Before the abrupt change in the world economy due to the COVID-19 outbreak, the Canadian economy was set to grow a solid 1.8 per cent in the first quarter. We may start to see the impact of COVID-19...Bank of Canada Interest Rate Announcement
Posted on Mar 27, 2020 in Economics
For the second time this month, the Bank of Canada has lowered its overnight policy rate before its regularly scheduled announcement date, taking the overnight rate down a further 50 basis points to 0.25 per cent. That level is what the Bank considers its effective lower bound, meaning it can not reduce rates further without potentially disrupting...Canadian Retail Sales (January 2020)
Posted on Mar 20, 2020 in Economics
A weak report to start off 2020. Seasonally-adjusted Canadian retail sales were up by 0.4% in January at $52 billion. The rise in January was driven by auto dealers and gas stations. Minus these two sub-sectors and sales were down 0.3% in the month. Sales were up in 4 of 11 sub-sectors, representing 48% of retail sales. The impact of COVID-19 on th...Canadian Inflation (February 2020)
Posted on Mar 18, 2020 in Economics
Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 2.2 per cent in February year-over-year, down from a 2.4 per cent increase in January. Excluding the impact of gasoline prices, national CPI rose by 2.0 per cent year-over-year, matching last month's increase. Gas prices rose less on a year-over-year basis as a result of lowe...